2021 (4) TMI 315

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.... For the Respondent : Mr.R.Venkata Narayanan for M/s.Subbaraya Aiyar JUDGMENT M.DURAISWAMY, J. We have heard Mrs.V.Pushpa, learned Standing Counsel for the appellant/Revenue and Mr.R.Venkata Narayanan for M/s.Subbaraya Aiyar, learned counsel for the respondent/assessee. 2.The appeal, filed by the Revenue under Section 260A of the Income Tax Act, 1961 (for short, the Act) is directed ag....

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.... itself has given a finding that such valuation is based on assessee's perception only and not based on any acceptable standard of accounting? 3.Whether on the facts and in the circumstances of the case and in law, the Hon'ble Income Tax Appellate Tribunal is right in giving relief on the ground that Assessing Officer failed to reconcile such stock with the by-numbers given when t....

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.... asset and not covered under section 55(2) of the Income Tax Act, 1961? 6.Whether on the facts and in the circumstances of the case and in law, the Income Tax Appellate Tribunal was correct in deleting the addition made towards stock discrepancy which was taken with the active participation of the assessee's staff under their own supervision and valuation thereof by relying on their o....